Do people in Bucharest really live better than people in Budapest?
According to Gfk, a market research institute, an average citizen in Bucharest has more money available to spend than a citizen in the capital of Hungary, Budapest. But how does Hungary fare against Romania in total, and where do they stand in the European Union? You will find the answers below.
Romania
Maszol.ro wrote that an average Romanian citizen was able to spend €7,453 in 2021, according to the data supplied by Gfk. The research institute also found that this number is half of 42 other European countries’ average, which was €15,055.
Just as it is true for most countries, the highest purchasing power of citizens is based in the country’s capital and its agglomeration. The same is true for Bucharest, the capital of Romania.
On average, a citizen in Bucharest and in Ilfov county has €13,100 to spend. While this number is 75% more than for the average Romanian, it is still 13% less than the EU average.
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Hungary
Hvg writes that in Hungary, although the same is true that the capital has the most purchasing power, the difference between regions is much more balanced.
Although the purchasing power in the Hungarian capital is 35% behind the EU average, it is 27% more than the country average. In exact numbers, citizens in Budapest and its agglomeration have €9,722 available to spend.
From this number, it is evident that the Bucharest average is quite significantly higher, almost 35% more than in Budapest, but the overall average purchasing power of Hungary is still slightly more (€7,642) than the Romanian average, according to Hvg.
Top 10
Using the market research company, Gfk’s data, Hvg listed the top ten cities in Hungary with the most purchasing power. Only municipalities with over 5,000 citizens were included in the list, so the hometown of Hungary’s richest man, Felcsút, is not on the list.
read also: Here is how the Hungarian economy will be in 15 years
Source: Hvg.hu, data from Gfk
It is also important to note that aside from two municipalities, all the others are in the agglomeration of Budapest.
Conclusions
While it is true that on average, people living in Bucharest have more to spend than people living in Budapest, overall, the Hungarian average purchasing power is still more than the Romanian.
Read alsoHungary’s is the world’s 3rd worst-performing government bond
Source: Hvg.hu, Maszol.ro
